Q32 Bio (NASDAQ:QTTB) Issues Quarterly Earnings Results

Q32 Bio (NASDAQ:QTTB) announced its earnings results on Wednesday. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02, FiscalAI reports.

Q32 Bio Stock Down 3.6%

NASDAQ QTTB traded down $0.58 during mid-day trading on Friday, reaching $15.62. The stock had a trading volume of 387,378 shares, compared to its average volume of 779,159. The stock has a market cap of $264.92 million, a PE ratio of 5.22 and a beta of 0.23. Q32 Bio has a 1 year low of $1.57 and a 1 year high of $23.57. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.36 and a quick ratio of 5.36. The company has a fifty day moving average price of $13.85 and a 200 day moving average price of $8.43.

Insider Buying and Selling at Q32 Bio

In other Q32 Bio news, Director Orbimed Advisors Llc purchased 1,875,000 shares of the stock in a transaction dated Thursday, May 28th. The shares were purchased at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the acquisition, the director directly owned 3,502,987 shares in the company, valued at $28,023,896. This trade represents a 115.17% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Diyong Xu acquired 1,875,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average cost of $8.00 per share, for a total transaction of $15,000,000.00. Following the completion of the transaction, the director directly owned 3,502,987 shares of the company’s stock, valued at $28,023,896. The trade was a 115.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 34.46% of the company’s stock.

Hedge Funds Weigh In On Q32 Bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new stake in shares of Q32 Bio during the 2nd quarter valued at about $25,000. Acadian Asset Management LLC purchased a new position in shares of Q32 Bio during the first quarter valued at approximately $50,000. Two Sigma Investments LP purchased a new position in shares of Q32 Bio during the third quarter valued at approximately $62,000. ADAR1 Capital Management LLC bought a new position in Q32 Bio during the fourth quarter valued at approximately $66,000. Finally, AQR Capital Management LLC bought a new position in Q32 Bio during the first quarter valued at approximately $68,000. Institutional investors own 31.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Zacks Research cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. HC Wainwright upped their price objective on shares of Q32 Bio from $13.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings raised shares of Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Mizuho assumed coverage on shares of Q32 Bio in a research note on Friday, May 22nd. They set an “outperform” rating and a $14.00 target price for the company. Finally, Cantor Fitzgerald assumed coverage on shares of Q32 Bio in a report on Monday, May 18th. They set an “overweight” rating for the company. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Q32 Bio presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Q32 Bio Company Profile

Q32 Bio Inc, a clinical-stage biotechnology company, develops biologic therapeutics to restore healthy immune balance in patients with autoimmune and inflammatory diseases driven by pathological immune dysfunction in the United States. Its lead product candidate is ADX-097, a humanized anti-C3d monoclonal antibody fusion protein to restore complement regulation, which has completed Phase I clinical trial for the treatment of renal and other complement-mediated diseases of high unmet need, including lupus nephritis, immunoglobulin A nephropathy, complement component 3 glomerulopathy, and anti-neutrophil cytoplasmic antibody-associated vasculitis.